Legend Biotech Enters Global License Agreement With Novartis Pharma For Certain CAR-T Therapies

(RTTNews) - Legend Biotech Corp. (LEGN) announced that Legend Biotech Ireland Limited, a subsidiary of Legend Biotech, has entered into an exclusive, global license agreement with Novartis Pharma AG for certain Legend Biotech chimeric antigen receptor T-cell cell therapies. The license agreement grants Novartis the exclusive worldwide rights to develop, manufacture and commercialize these cell therapies. Legend Biotech will receive a $100 million upfront payment and will be eligible to receive up to $1.01 billion in milestone payments and tiered royalties.

Legend Biotech will conduct a Phase 1 clinical trial for LB2102 in the U.S. Novartis will conduct all other development for the licensed products. For More Such Health News, visit rttnews.com.